Comparison of the structural features and catalytic performance of bimetallic nanocatalysts will help to develop a unified understanding of structure-reaction relationships. The single-molecule fluorescence technique was utilized to reveal the differences in catalytic kinetics among PtRu bimetallic nanocatalysts and Pt and Ru monometallic nanocatalysts at the single particle level. The results show that bimetallic nanocatalysts have higher apparent rate constants and desorption rate constants relative to monometallic nanocatalysts, which leads to their higher catalytic activity. At the single particle level, bimetallic nanocatalysts have a wider distribution of apparent rate constants, suggesting that bimetallic nanocatalysts have higher activity heterogeneity relative to monometallic nanocatalysts. By investigating the relationship between the reaction rate and the rate of dynamic activity fluctuations, it was found that spontaneous surface restructuring and reaction-induced surface restructuring of nanoparticles occurred. The surface of bimetallic nanoparticles restructured faster, which made the bimetallic nanocatalysts more active. These findings provide new insights into the design of highly active bimetallic nanocatalysts.